best saving apps platforms nigeria

Top 7 Best Money Saving Apps and Platforms in Nigeria

Saving has long been one of the key steps to proper personal finance management. Unfortunately, it does not come as easy as it flows from the lips of personal finance advocates.

However, Fintech has come with what we could call “The Solution” to our poor saving habit. With the help of this financial technology designed in the form of mobile apps, we can save with ease, purpose, and discipline.

We no longer have to resign our faith to the piggy bank under the bed or in one of the hidden corners of our rooms.

But among these apps developed for savings, which should you trust?

How would you know the one that will give you what you want?

Well, these questions and more like them are what prompted this article. Therefore in this post, we have carefully reviewed 12 saving apps in Nigeria, and shown their wins and failures. We hope that with this, you will take your saving resolution to a higher level.

Moreover, we have come about this list following the benchmarks listed below:

  • Users’ reviews
  • Investment options
  • Years of operation
  • Charges


1. PiggyVest

The PiggyVest platform first launched activities in January 2016 as PiggyBank. In the first three years of operation, users could only save money and withdraw it whenever they wanted. But in 2019, the company rebranded to PiggyVest, adding an investment option to their list of services.

Therefore, on the PiggyVest savings app, you will not only have the opportunity to save your money but would also be exposed to investment opportunities that will help your finances to grow. With the system, you can choose to automate your saving on their platform. But if you are not a fan of that, you can save manually whenever you want to.

With PiggyVest, you will only have four withdrawal days in 12 months. This would help to boost your discipline and reduce the temptations of withdrawing unduly. The platform also lets you save with different intentions through their Piggybank, Target Saving, and Safelock options.

You can start from 50 Naira daily, up to N500, 000 monthly depending on your financial strength. You could go a step further, taking the chance offered through their Investify option. Through it, you can invest in low-risk businesses and makeup to a 25% return after 6 to 12 months.

While PiggyVest does not charge you if you want to withdraw all or part of your money (at when due), they will you a 2.5% penalty fee when you withdraw your savings outside the withdrawal periods.

The app also makes room for the emergency fund through their Flex Account. And you can earn up to 8% per annum via this account.

piggyvest best saving apps platform


  1. Available on iOS and Android
  2. It is free
  3. Used by millions
  4. They have been in operation since 2016
  5. Their interest rates are relatively good (between 6 – 13%)


  1. Some users have complained of poor services in terms of connecting their BVN, phone number, email, and sending funds to other users.

2. Cowrywise

Another app that made it to this list of top saving platforms in Nigeria is Cowrywise. The platform was launched in June 2017, with Ahmed Razaq as the CEO and Edward Popoola, the Chief Technical Officer (CTO).

Right from when they started, Cowrywise allows you to save and invest your savings for higher returns. And just like in PiggyVest, you can automate your savings if you want. But you can do it manually if you prefer a more random system

They offer different saving terms, allowing you to save with a purpose and meet your definite goals. Among these terms are Halal Savings, which is an interest-free saving plan, specially crafted for Muslims who do not want interests.

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Cowrywise is pocket-friendly, as you can begin to save at least 100 Naira daily. However, you can save as long as you wish, but the minimum duration of any savings plan is 90 days (roughly 3 months). Another bonus to this platform is that you can pay with all the local debit cards in Nigeria.

Although the system and transactions are free, you will be charged if you withdraw outside the withdrawal window. Cowrywise could offer up to 15% interest per annum, depending on your plan and saving duration.

On the other hand, while Cowrywise lets you save, you can buy into their Systematic Investment Plan (SIP) to accumulate more profit through a mutual fund investment. However, your fund manager will have a certain percentage of the profit you made from the above investment.

cowrywise best saving apps in nigeria


  1. Cowrywise is available on iOS and Android systems
  2. Their interest could rise to 15% per annum
  3. The saving app as over 150, 000 users across Nigeria
  4. It is free; no weekly or monthly service charge
  5. Multiple payment methods: Card, Bank transfer, and Stash


  1. You cannot transfer to another bank account different from the one you registered. Although this is a layer of security; it could be a problem for some users
  2. You can be flagged without warning, preventing you from accessing your account

3. SumoTrust

SumoTrust is another highly-trusted Nigerian saving app that lets you earn up to 10 to 15% on your savings per annum. With the help of the platform, you will save, withdraw, and plan your finances to meet your personal goals.

The project was launched in June 2019 as SumoBank and led by Igwe Chrisent. In December the same year, they rebranded to their present name, SumoTrust.

SumoTrust has similar features as those we earlier discussed. However, this platform has a unique feature called the NUBAN account, which allows you to receive money from anyone from any bank. It also has a saving feature that allows you to do joint savings, maybe with your friends, as a group or organization.

More so, the platform has different saving plans: their Main Savings option lets you save automatically at a regular interval and earn 10% interest per annum; with the Fixed Savings you can securely lock a certain amount for a minimum of 12 months and earn 15% interest.

Presently, you can start saving from a minimum of 100 Naira daily and a maximum of 500, 000 monthly on SumoTrust. However, you can make payment with your local debit cards.

Every transaction is free on this saving platform except if you want to withdraw before your withdrawal date. Then, you will be charged 4.5% of the amount you withdraw.

Unlike other financial technologies, SumoTrust offers free courses in different areas. This is feasible because of their partnership with the Entrepreneur Programme.

sumotrust best saving apps nigeria


  1. SumoTrust has a good interest rate (10% – 15%)
  2. In a space of one year, they got over 5000 users
  3. It is free
  4. It is very user-friendly, with good customer service
  5. You will have access to free courses which are worth up to 150, 000 Naira


  1. It is only available on the Android system. The iOS version is yet to be released
  2. Upon registration, autoSave is automatic so that even when you do not want to save, you will be forced to. You can disable it anyway.

4. Kuda

Kuda is is yet another financial technology that is worth using to save money seamlessly. Many older reviews have sung the praises of this web and mobile saving application. But what do they really offer?

This project was launched in 2018 and since then, it has attracted over 500, 000 users across different platforms. Kudabank app allows you to save money and earn up to 15% interest per annum. And just like many of its likes, you can automate your savings at a regular interval. However, you can also save manually, at your pace.

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Meanwhile, signing up on this app is simple. All you need is your phone number, email, and BVN. You will also be given a debit card with which you can withdraw. To send money into your Kuda savings account, you can simply utilize a bank transfer or any local debit card.

Unlike other saving solutions in Nigeria, Kuda offers you a unique option to budget your funds properly. You can also qualify for their loan if you maintain a good financial history.

While every service Kuda offers is free, you are only allowed a maximum of 25 free transfers per month. You will be charged 10 Naira if you exceed this limit per month.

kudabank best saving apps in nigeria


  1. Kuda is available on iOS and Android
  2. The app and its services are free
  3. It offers up to 15% interest per annum
  4. It is simple to use
  5. An alternative digital bank


  1. Some users have reviewed that you can experience slow transaction processing sometimes
  2. You can only withdraw at ATM for free when you are taking from 3000 Naira upwards. And this is only supported on Access Bank machines.

5. Pettysave

This app which is a product of Pettysave Limited, a financial technology company located in Lekki phase 1 Lagos, allows you to save and earn mouthwatering interests rate on your savings. Thus with the Pettysave saving app, you can begin your journey towards mastering your finances and money goals.

The system enables you to automate your savings, scrapping out that laxity that prevents you from saving. It also offers you investment instruments that help your finance grow from here to there.

This product has three features within which you can attain your saving goals: the Automated Savings which you can save on a daily, weekly, or monthly basis and earn 10% your savings per annum; Multiple Goals which lets you save for a particular thing, say a car, house project, vacation, etc; then, Vault option which stands in the form of fixed deposit. With Vault, you can fix a deposit for one month or more, earn 12% interest.

On Pettysave, you have the opportunity to invest in different industries with as low as 5000 Naira. You could earn up to 40% Return on Investment depending on your investment instrument or vehicle.

To open a Pettysave account on your phone, you need to have a working email and phone number, address, and a personal/secure password. The app is available on iOS and Android devices.

Pettysave services are free, but you will be charged 5% and 2% on Autosave and Target save respectively if you withdraw outside the free withdrawal dates.

pettysave best saving apps nigeria


  1. Available on iOS and Android
  2. Their interest rates are relatively high
  3. It is free to use, except in cases of penalty
  4. You can start saving as low as 100 Naira daily
  5. Availability of investment options


  1. They set the withdrawal dates themselves
  2. Just like every other thing, the app is not 100% efficient. So you could experience some downs at some points. Nevertheless, customer care is there to help.


If you are the type that finds it difficult to be disciplined in terms of saving, then you would want to stick to one of these tops saving solutions provided by Nigeria fintech organizations. as one of them is a property of VFD Microfinance Bank. Through this app, the bank has provided an option for you to reach your financial goals easily.

The system is designed in such a way that you can start saving from N100 daily, to an indefinite amount. So, you can save as much as you can. The platform also allows you to earn 8% interest on your savings. Nevertheless, you must be ready to save for at least 30 days. has two primary saving products: Goal Saving and Periodic Saving. With the Goal Saving option, you can save towards a certain goal. It could be rent, school fees, travel or tour, and so on. The Periodic Saving, therefore, lets you save for a longer-term.

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To get on board, you simply need to download the app from App Store/Playstore and register. You will add a bank account, your BVN, and debit card details. With any debit card issued by a Nigerian bank, you can deposit into your account.

Perhaps you want the saving to be done automatically, you can set it up as an autosave to run on a daily, weekly, or monthly basis depending on your goals. And just like the other platforms, you can only withdraw on the due date. Other withdrawals outside this date will attract a penalty fee.

On the flip side, does not really offer something unique like investment options or free courses like SumoTrust. But the platform has earned the trust of thousands of users. So, we recommend it. best saving apps nigeria


  1. The app is available on iOS and Android systems
  2. It is free to use
  3. The user experience is considerate
  4. It is guided under a well-known microfinance bank, VFD


  1. It does not offer investment options
  2. Their interest rate (8%) is lower than their competitors’
  3. Some users have complained about the difficulty in adding bank or debit card

7. Kashbase

Kashbase is a saving and investment app developed by Kashbase Mobile Technology Limited, a company based in Victoria Island, Lagos. With their fintech system, they help you to save, invest, and plan your finances and earn up to 15% per annum.

However, with Kashbase you can start saving from 100 Naira daily, up to whatever amount you can. To help achieve your financial goal, this app has three savings and investment plans:

Instant Save, a non-automated saving system that gives you every privilege to save when you can at your own pace; the Flex Plans in which your periodic savings is deducted automatically from your account. So with it, you can flex your time in other engagements while your savings and gain read ahead.

The last plan is the Fixed Plans which lets you save a huge amount of money for a minimum period of 4 months. Unlike the previous plans that you can top funds, the fixed plan is definite and you cannot add money to it until the maturity date. Moreover, this plan would offer you higher interest.

On Kashbase, you can set different saving goals like wedding plans, school plans, car plans, etc, to motivate you and keep you afloat on your goals. If you choose to invest your money, you simply need to choose from the investment options put on the platform.

Just as the NUBAN account of SumoTrust, the Purse feature of this app lets you receive and send money to any account, within and outside the Kashbase system. This could serve as your bank account. But, you will not earn interest on it.

kashbast best saving platforms nigeria


  1. Kashbash is available on iOS and Android
  2. It is completely free, except for the penalty you are charged when you withdraw outside the due dates
  3. The app has an amazing user interface (UI)
  4. They have a good interest rate (15%)
  5. It offers you a digital purse


  1. They are new and still gaining their grounds. So, there could be trust issues


Now that we have explored about 7 different saving apps in Nigeria, you could still be asking, ”Which is the best among them?”

Well, the truth is that the results and reviews are there for you to decide which to go for. What then is life if not exploring your options and deciding for yourself?

But considering the age and number of users, PiggyVest is number one. In terms of interest rate PiggyVest is below apps like Kashbase, SumoTrust, Kuda, or Cowrywise.


All these apps are student-friendly. On PiggyVest you can save at least N50, while on the others like SumoTrust, Savi, Kashbase, Cowrywise, you can start from N100. These are considerable amounts for students.

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